MFA Submits Comments Cayman Ministry of Financial Services on Country-by-Country Reporting

On February 27, MFA submitted a letter to the Cayman Ministry of Financial Services in response to its consultation on implementation of country-by-country reporting requirements.  In our letter, we expressed general support for the Ministry’s proposed regulations, in particular expressing support for: (1) the proposal for non-public reporting with confidentiality protections for reported information; and (2) the proposed threshold of U.S. $850 million in global revenue for a multi-national company to be subject to the Cayman rules.